Stocks soar on surprisingly strong jobs report

Stocks soar on surprisingly strong jobs report

US stocks surged Friday after the government reported that 2.5 million jobs were added in May and that the nation’s unemployment rate fell to 13.3%. Economists had been expecting significant job losses and a spike in the unemployment rate to near 20%. But it appears that the reopening of several states has led to more…

These companies are hiring — rapidly — during the coronavirus crisis

These companies are hiring — rapidly — during the coronavirus crisis

Businesses shut down across America during the coronavirus pandemic, leading to millions of layoffs and furloughs. The US job market is attempting to emerge from its worst downturn in modern memory. But it’s not all doom and gloom on the employment front. There are still companies hiring amid the economic calamity as changing consumer habits…

A whistleblower just took home $50 million — the biggest award the SEC has ever paid

A whistleblower just took home $50 million — the biggest award the SEC has ever paid

The US Securities and Exchange Commission has paid out its largest-ever whistleblower award — nearly $50 million. The whistleblower tipped off the agency to a currency manipulation scheme at a massive bank, resulting in a “successful enforcement action,” the SEC said Thursday. The Wall Street Journal, which conducted an investigation about the scheme, reported the…

BBC promotes marketing exec to top job as it braces for uncertain future

BBC promotes marketing exec to top job as it braces for uncertain future

The BBC has appointed Tim Davie as its next director general, choosing a commercial executive rather than a journalist to lead the British public service broadcaster into an uncertain future. Davie, who will take over the top job in September, joined the BBC in 2005 after senior marketing positions at Pepsi and Procter & Gamble.…

Business jet maker Bombardier cuts 2,500 jobs

Business jet maker Bombardier cuts 2,500 jobs

Demand for business jets has dried up during the Covid-19 pandemic. A precipitous drop in orders prompted aircraft maker Bombardier to announce it is cutting 2,500 jobs, mostly in Canada, its home base. Business jet deliveries are expected to fall 30% this quarter, Bombardier said Friday. “Bombardier must adjust its operations and workforce to ensure…

Oil prices rise to three-month high ahead of OPEC meeting

Oil prices rise to three-month high ahead of OPEC meeting

Anticipation that OPEC and allied countries will extend record production cuts through July is sending oil prices higher, with Brent crude futures, the global benchmark, rising above $41 per barrel for the first time since early March. The latest: OPEC will meet on Saturday to discuss extending output cuts by one month, two OPEC sources…

AstraZeneca now has capacity to make 2 billion doses of coronavirus vaccine

AstraZeneca now has capacity to make 2 billion doses of coronavirus vaccine

AstraZeneca says it has secured capacity to produce 2 billion doses of a potential coronavirus vaccine being developed in partnership with researchers at Oxford University. The new production figure includes 400 million doses that will be provided to low and middle-income countries before the end of this year. The UK-based pharmaceutical company announced Thursday that…